Property Type

Hanley Arranges $3.2M Sale of Single-Tenant Property Leased to Café Rio in Salt Lake City

by Amy Works October 4, 2018

SALT LAKE CITY — Hanley Investment Group Real Estate Advisors has arranged the $3.2 million sale of a 2,513-square-foot, single-tenant building leased to Café Rio in Salt Lake City’s Sugar House district. The building is a renovated Carl’s Jr. property with a drive-thru. Jeremy McChesney and Dylan Mallory of Hanley Investment Group represented both the buyer and seller in the off-market transaction. The buyer was a private investor from the San Francisco Bay Area, and the seller was a private investor based in Salt Lake City.

October 4, 2018

Development Mixed-Use Texas

CSW Development Breaks Ground on 250,000 SF Mixed-Use Center in Metro Austin

by Taylor Williams October 4, 2018

GEORGETOWN, TEXAS — Austin-based CSW Development has broken ground on Wolf Crossing, a 250,000-square-foot mixed-use center located at the junction of Interstate 35 and State Highway 29 in Georgetown, a northern suburb of Austin. Situated on 42 acres, the center will house a grocery store, several restaurants, neighborhood-service retailers, medical facilities and a hotel. Openings are slated for fall 2019. JLL is handling leasing and marketing of the center, prospective tenants of which include Verizon, P. Terry’s, Jason’s Deli and Salons by JC.

October 4, 2018

Development Midwest Missouri Mixed-Use

Remiger Design Unveils Master Plan for Redevelopment of Former Crestwood Mall in Suburban St. Louis

by Kristin Harlow October 4, 2018

CRESTWOOD, MO. — Architectural firm Remiger Design has unveiled a master plan for the redevelopment of the former Crestwood Mall in suburban St. Louis. Remiger is working with Chris Cedergreen, a commercial real estate design advisor. Plans call for more than 794,000 square feet of retail, office and residential space. The retail portion will feature 160,000 square feet, including a pharmacy, four outlots and a cinema. The office portion will include 240,000 square feet of office and medical space. The residential component will feature a four-story building with amenities such as a fitness room, pool and outdoor meeting area. Plans call for nearly 3,000 parking spaces. Known as Crestwood City Center, the development will connect to Grant’s Trail, a greenway. Crestwood Mall, which once housed more than 100 retailers in 1 million square feet, closed in September 2013. Owner UrbanStreet Group has completed the environmental remediation and demolition of the mall. Walpert Properties Inc. is the project developer. HBD is the general contractor. Pam Hinds and Christopher Zoellner of Balke Brown Transwestern will market the office and retail portions for lease. The target date for completion of the office portion is January 2020.

October 4, 2018

Development Midwest Mixed-Use Wisconsin

Green Bay Packers Plan Phase II of Titletown Development

by Kristin Harlow October 4, 2018

ASHWAUBENON, WIS. — The real estate development arm of the Green Bay Packers, Titletown Development LLC, has unveiled plans for Phase II of Titletown, the mixed-use development located directly west of the professional football team’s Lambeau Field. Phase II plans call for approximately 220 residential units and a 130,000-square-foot office building. Up to 150 apartment units will be built along Brookwood Drive. The remaining residences will be townhomes available for ownership. The office building will be constructed along Lombardi Avenue and Marlee Lane. Wisconsin-based Commercial Horizons will serve as an investor and designer for the building. Construction is expected to begin in spring 2019 with completion slated for summer 2020. GK Titletown Developers LLC, a joint venture between Glimcher Capital Group and Kaufman Development, is serving as a co-developer for the residential portion. Project architects include NBBJ, Humphreys & Partners Architects, KTGY Architecture + Planning and Performa. The Green Bay Packers have won more championships — 13 to be exact — than any other team in National Football League history, including four Super Bowls.

October 4, 2018

Development Industrial Texas

Clay Development to Build 214,300 SF Spec Distribution Center in Houston

by Taylor Williams October 4, 2018

HOUSTON — Clay Development & Construction Inc. will build Sheldon Distribution Center I, a 214,300-square-foot industrial property in Houston. The property, which is being developed on a speculative basis, will be situated on an 11.2-acre site that allows for expansion of up to 385,000 square feet. Building features will include 32-foot clear heights, 44 dock-high doors, a 135-foot truck court, 104 employee parking spots and the option of 29 trailer parking spots. The groundbreaking is scheduled for Dec. 1 and completion is slated for the second quarter of 2019. Frost Bank provided construction financing for the project. NAI Partners will lease the property.

October 4, 2018

Development Midwest Minnesota Multifamily

Opus Completes 30-Story Apartment Building in Minneapolis

by Kristin Harlow October 4, 2018

MINNEAPOLIS — The Opus Group has completed 365 Nicollet, a 30-story apartment building in the heart of downtown Minneapolis on Nicollet Mall. The 370-unit property includes 9,000 square feet of ground-level retail space. Floor plans range from 520 to 3,000 square feet and units include floor-to-celling windows with quartz countertops. Amenities include an outdoor pool, yoga studio, outdoor theater, clubroom, penthouse lounge, concierge services and bike storage. The Excelsior Group is responsible for the management and lease-up of the property. Monthly rents start at $1,490.

October 4, 2018

Hospitality Loans Midwest Minnesota

Alliant Provides $23M Refinancing for Hewing Hotel in Minneapolis

by Kristin Harlow October 4, 2018

MINNEAPOLIS — Alliant Credit Union has provided a $23 million loan for the refinancing of The Hewing Hotel in the North Loop market of Minneapolis. The 124-room boutique hotel features a restaurant called Tullibee as well as a rooftop, social club and ballroom. Ben Greazel of NKF Capital arranged the four-year loan. The borrower was not disclosed.

October 4, 2018

Loans Midwest Ohio Retail

NorthMarq Arranges $7.2M Acquisition Loan for Shopping Center in West Chester, Ohio

by Kristin Harlow October 4, 2018

WEST CHESTER, OHIO — NorthMarq Capital has arranged a $7.2 million loan for the acquisition of Liberty Commons in West Chester. The 58,059-square-foot shopping center is located at 7302-7340 Yankee Road. Tenants include a chiropractor, nail salon, hair salon and wings restaurant. Noah Juran and Dale Stewart of NorthMarq arranged the 10-year loan, which features a 30-year amortization schedule. A national bank provided the loan. The borrower was not disclosed.

October 4, 2018

Acquisitions Multifamily Texas

SWBC Acquires 216-Unit Apartment Community in Northwest Houston

by Taylor Williams October 4, 2018

HOUSTON — Dallas-based multifamily developer SWBC Real Estate LLC has acquired Cypress Lake Apartments, a 216-unit multifamily community in northwest Houston. Built in 1995, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, outdoor grilling area and a private lake with an encompassing jogging trail. Cypress Lake Apartments, which SWBC acquired as a value-add investment, was 90 percent occupied at the time of sale.

October 4, 2018

Leasing Activity Office Texas

Management Consulting Firm to Relocate to 56,703 SF Office Space in Frisco

by Taylor Williams October 4, 2018

FRISCO, TEXAS — Management consulting firm Brierley+Partners will relocate its global headquarters to The Offices One at Frisco Station, taking 56,703 square feet of office space at the 242-acre Frisco Station development located on the northern outskirts of Dallas. The move is intended to facilitate collaboration between the company’s global offices in Los Angeles, Tokyo and London. Randy Cooper, Craig Wilson, Kate Sudol and Wills Bauer of Cushman & Wakefield represented Brierley+Partners in the lease negotiations. Johnny Johnson, Chris Taylor and Clint Madison, also of Cushman & Wakefield, represented the landlord, VanTrust Real Estate, which developed the building.

October 4, 2018

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